After discovering that Twitter has far more bots than originally stated, I have seen more than a few tweets from YouTube citizen journalists.
Musk pointed out that bots were four to five times more than the numbers he was told were “a big deal” during a recent interview. He used an analogy of termites and a home as a way to explain this.
“If Twitter has been vociferously less than 5% fake/spam accounts, but, in fact it is 4-5x that number. It’s big deal. It’s like, I agree to buy your house, you say the house has less than 5% termites but if it turns out it’s 90% termites. It’s not the same house” — @elonmusk pic.twitter.com/fbLMXkHeTf
— Pranay Pathole (@PPathole) May 18, 2022
Many speculated that Musk would leave after realizing that he was purchasing far less userbase than he was actually paying for.
I’m not so certain.
One, Twitter, despite his discovery, is still the “de facto town square”, as he previously described it. This website is still used by the western world to discuss current events, exchange opinions and run advertising campaigns. This website is used by world leaders to share information and connect with voters. This platform is still used by journalists to share videos, report on stories, and distribute their opinions.
Twitter is a very important platform. Many others have tried to duplicate its success but it has not been successful.
Let’s combine that fact with Musk’s mission. Musk wanted to make the square de facto a place of free speech for the purpose of improving society. Musk is a businessman. But this is much more than a business transaction. Musk is on a mission for society to improve and advance. This has been his main focus for a while, as you can see from his businesses. He believes that free speech is essential to society’s advancement.
Authoritarians are not accustomed to this kind of progress and have tried to decry and trip Musk up every step of his journey. They will turn up the heat as he nears his goal. Based on the recent tweets Musk has released, it seems that he is aware that things will only get worse. This tweet, which he posted yesterday, is a clear indication that he’s determined to go the distance.
Political attacks on me will escalate dramatically in coming months
— Elon Musk (@elonmusk) May 18, 2022
They wouldn’t do it if he was going to give in and let them win.
Musk is letting it be known that he is overpaying for the bots. Musk is using his knowledge of bots and his public declarations about them to lower the price and get far less for the actual town square. It is becoming clear that bots are very common here. This gives Twitter more reason to sell it to Musk to make a decent amount of cash before it gets even cheaper.
Musk is grabbing them by the financial short hairs and the board may be asking Musk for his price in a few days or hours. Musk’s departure would have cost him a billion dollars, but that’s nothing for a man who is worth $268 billion. The board will be worried about Musk not buying, as they fear that he may not pay the fee. Musk has all the leverage, and Twitter is losing its with each new report.
Musk is in a powerful position, and I doubt that he would walk away from it. With all of this in mind and his stated mission to free speech and advance society, it is unlikely that Musk will abandon his mission to own Twitter. Musk seems to be aware that things will get more heated and he isn’t giving up.
Musk would be foolish to throw in the towel, and he doesn’t seem like the type.
My advice: Buy the dip, Musk definitely is.